§560:2-405 - Source, determination, and documentation.
§560:2-405 Source, determination,
and documentation. (a) If the estate is otherwise sufficient, property
specifically devised may not be used to satisfy rights to homestead allowance
or exempt property. Subject to this restriction, the surviving spouse or
reciprocal beneficiary, guardians of minor children, or children who are adults
may select property of the estate as homestead allowance and exempt property.
The personal representative may make those selections if the surviving spouse
or reciprocal beneficiary, the children, or the guardians of the minor children
are unable or fail to do so within a reasonable time or there is no guardian of
a minor child. The personal representative may execute an instrument or deed
of distribution to establish the ownership of property taken as homestead
allowance or exempt property. The personal representative may determine the
family allowance in a lump sum not exceeding $18,000 or periodic installments
not exceeding $1,500 per month for one year, and may disburse funds of the
estate in payment of the family allowance and any part of the homestead
allowance payable in cash. The personal representative or an interested person
aggrieved by any selection, determination, payment, proposed payment, or
failure to act under this section may petition the court for appropriate
relief, which may include a family allowance other than that which the personal
representative determined or could have determined.
(b) If the right to an elective share is
exercised on behalf of a surviving spouse or reciprocal beneficiary who is an
incapacitated person, the personal representative may add any unexpended
portions payable under the homestead allowance, exempt property, and family
allowance to the trust established under section 560:2-212(b). [L 1996, c 288,
pt of §1; am L 1997, c 383, §19]